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NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBankingcash coverage ratio at 53 percent. Eurosystem funding dropped by 1.6 billion euros QoQ to 24 billion in Q4 and further to 23.4 billion on March 10. The current figure incorporates ECB funding of 12.5 billion and Emergency Liquidity Assistance (ELA) funding of 10.9 billion. The cash value
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Banks’ EFSF bonds QE eligible but with little impact on liquidity
Economyin the programme. The bulk of banks’ EFSF bond holding were used until now as collateral for ECB funding... in the form of ECB funding with the cash they would get from the EFSF bond sales reducing accordingly their ECB funding reliance, which is currently provided at almost zero interest rates. From an accounting
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NBG completes sale of Finansbank to Qatar National Bank
EconomyBankingbonds, reducing accordingly its reliance on the Emergency Liquidity Assistance (ELA) funding and the associated funding cost. The cash value of the pledged pillar II bonds stood at 1.5 billion euros in May implying the nominal value stood close to 3 billion. The ELA funding cost stands 150 basis
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Deposit flow turns positive in May with inflows of 184 mln
EconomyMacroeconomybillion respectively. A the same time, Greek banks’ Eurosystem funding fell for the eleventh... in the Emergency Liquidity Assistance (ELA) funding by 2.08 billion to 64.81 billion, its lowest level since January 2015, while ECB funding also slipped by 1.78 billion to 30.9 billion. BoG said last Thursday
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Deposit inflows of 1.07 bln in June, highest in first half of 2016
EconomyMacroeconomy. Meanwhile, the reliance of Greek banks on Eurosystem funding notably dropped by 8.57 billion euros to 87.14 billion in June, reflecting of a sharp fall in ELA funding by 10.44 billion, while ECB funding rose by 1.87 billion. The reduced central bank funding in June mainly results from
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S&P raises core Greek banks’ ratings, with a stable outlook
Economy. In addition, their funding positions will remain highly unbalance resulting in continued reliance on Eurosystem funding to cover their liquidity needs, S&P stresses. A rating upgrade would require... that would result in lower reliance on ECB funding, return to profitability and asset quality
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One-off loss affects NBG’s P&L, NPE stock drops by 900 mln in Q2
EconomyBankingpercent QoQ to 482 million largely driven by lower funding cost due to reduced Emergency Liquidity Assistance (ELA) funding as well as lower deposit cost. Fee and insurance income rose by 4 and 30.... Eurosystem funding markedly fell by almost 8 billion QoQ to 14.9 billion at the end of Q2
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Deposits grow by 1.3 bln in August, highest inflow in 2016
EconomyMacroeconomyon Eurosystem funding fell further by 4.39 billion to 78.46 billion at the end of August. The monthly movement reflects a decline in the Emergency Liquidity Assistance (ELA) and ECB funding by 2.55 and 1.83 billion respectively. Overall, Central Bank funding has dropped by 17.26 billion over the last three
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Deposits edge down to 123.5 bln in September on outflows of 379 mln
EconomyMacroeconomyto the end-2015 figure. BoG earlier data also showed that Greek banks’ Eurosystem funding dropped by 3.15... funding by 1.82 billion to 27.75 billion coupled with a decline in Emergency Liquidity Assistance (ELA) funding by 1.33 billion to 46.56 billion. Over the past four months, after the completion
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Piraeus Bank posts net profits of 31 mln in Q3, records improved asset quality trends
EconomyBankingmillion. The NII increase mostly reflects lower funding cost due to reduced reliance on Emergency Liquidity Assistance (ELA) funding and repo cost at negative rate, which more than offset the negative... single-digit NII growth going forward, on the back of lower deposit cost, positive impact on funding
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